United States President
Donald Trump
said it’s “highly unlikely” he would extend the two-week ceasefire with
Iran
if a deal is not reached before it ends, and said the
Strait of Hormuz
would remain blocked until an agreement is finalized.
Trump said in a Monday phone interview that Vice President JD Vance would leave later in the day to resume negotiations in Pakistan, which he said are set to begin Tuesday.
“I’m not going to be rushed into making a bad deal. We’ve got all the time in the world,” the president said.
Trump said it’s “highly unlikely that I’d extend it” when asked about the truce, which he announced April 7. Trump said the expiration of the ceasefire occurs on Wednesday.
“It’s Wednesday evening,” the president said. “Wednesday evening Washington time.”
The S&P 500 index touched session lows on Trump’s comments, before paring losses. Oil prices extended gains with both benchmarks trading up more than five per cent. Investors are keeping a close watch on how or when energy flows through the strait will meaningfully resume.
The price of crude has increased as the U.S. maintains its blockade on the strait and the Navy seized an Iranian-flagged ship. But the president insisted “I’m not opening it up.”
“They want me to open it. The Iranians desperately want it opened. I’m not opening it until a deal is signed,” Trump said.
Tehran has said it has no plans to attend the potential negotiations — which would aim for an agreement to formally end the seven-week conflict — though a final decision hasn’t been made, Foreign Ministry spokesman Esmail Baghaei told reporters on Monday.
“There are various indications that there is no seriousness on the U.S. side in advancing diplomacy,” Baghaei said.
The president said that a meeting with Iran to talk peace terms could work out well for everybody. He said he would love to attend the talks in person, but did not think it would be necessary.
Asked if he expects fighting to resume immediately afterward if there’s no deal, Trump said “If there’s no deal, I would certainly expect.”
Iran is reviewing a U.S. proposal delivered during a visit by Pakistan’s army chief Asim Munir, Baghaei said, according to the semi-official Iranian Students’ News Agency. The details of the offer were not disclosed.
U.S. seizes Iranian ship in blockade, casting doubt on peace talks
Kuwait declares force majeure on oil shipments on Hormuz halt
Bloomberg.com